|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|ALEXBANK - Loan with Salary Transfer||Minimum Salary: EGP 700||Salary Transfer: Yes||Islamic Finance: No||Maximum Term: 8 Years||Flat Rate: 0%||Reducing Rate: 0%|
- Offered to Egyptian Individuals working in the governmental, public and private sectors with an official undertaking letter signed by the employer
- Extended repayment up to 8 years
- Competitive interest rate and charges
- Minimum loan amount EGP 5,000 and maximum EGP 1 Million
- Pre-approved Credit Card & Overdraft limits
- No guarantor required
- Free life insurance
- Completed application form
- Copy of National ID
- Recent salary certificate letter
- Recent telephone, electricity or gas utility bill (maximum 3 months old)
- Salary transfer declaration
- Minimum salary starting from EGP 700 for all governorates and EGP 1000 for residence of Greater Cairo & Alexandria
- Salary is transferred to your ALEXBANK account
- Customer's age is between 21 years and 60 years and up to 65 years for professors & counselors
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the APR, which is going to be calculated in this example.
Years: This is the original term or length of the product, stated in years.
Effective Monthly Payment: This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%): The calculated Annual Percentage Rate(APR) is determined using the annual interest rate on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.